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Iran: State-owned economy most important challenge facing industry

Tehran, Oct 18, IRNA-An industry official said in Tehran on Monday that wide-spread government ownership of economy and lack of a viable industrial strategy are among the most important challenges facing the industrial sector in its bid to compete the international markets.

Secretary of first Conference on Engineering of Manufacturing and Production Systems, Mohammad Hossein Sadeqi, added that about 20 percent of total investments in the economy is carried out by the private sector which leads to lower productivity, and reduces competitive capabilities.

He also highlighted the need for Iran to join the World Trade Organization (WTO).

"Iran is a developing country which should take steps in developing is productive and manufacturing capabilities as the prerequisites of sustainable development."

Sadeqi also said that research in strategic and infrastructure sectors and innovate industrial programs are crucial in scientific and technological development of the country.

In terms of drawing foreign investments to the country, he added the Industry and Mining sector has drawn 76 percent of the total foreign capital invested between the Iranian year 1372 (started March 21, 1993) and the month of Bahman (January 20-February 18).

He also added the sector with the number of projects approved (147) in terms of total foreign investments carried out in the country (192) in the said period.

The value of projects stood at dlrs 3,741.899 million of the total foreign investments of dlrs 9,280.491 million in the period.

Former Deputy Oil Minister Mohammad Hadi Nejad-Hosseinian said here in April the most intractable problem in Iran is that the government is not in its "appropriate place."

Whereas the government should pursue policy making, supervisory and guidance role it has instead occupied the the place of the private sector in the economy and is shouldering too much executive responsibilities, he lamented.

Implementing large developmental projects by the government merely leads to its bloated seize. The government should let the private sector handle such tasks as highway construction and other infrastructure projects, Nejad-Hosseinian added.

... Payvand News - 10/18/05 ... --

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